Several important financial and regulatory changes have come into effect from July 1, 2026, impacting millions of Indians. The changes include free Aadhaar email updates, revised credit card reward programmes, higher passport fees, updated airport lounge access rules, and the approaching Income Tax Return (ITR) filing deadline.
Financial rules change from July 1
Taxpayers filing ITR-1 and ITR-2 for the financial year 2025-26 (assessment year 2026-27) must submit their returns by July 31, 2026. Those who miss the deadline may have to pay a penalty of up to ₹5,000 if their annual income exceeds ₹5 lakh, while taxpayers earning below ₹5 lakh could face a penalty of ₹1,000 for filing a belated return.
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Aadhaar updates, passport fees, credit cards, ITR deadline
In a major relief for Aadhaar users, the Unique Identification Authority of India (UIDAI) has made updating the registered email address linked to an Aadhaar card free of cost. The service, earlier priced at ₹75, will remain free through the Aadhaar mobile application from July 1 to December 31, 2026.
SBI Card has revised the reward point structure for PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK. The updated policy introduces new reward earning limits and expands the list of transactions that will no longer be eligible for reward points.
Meanwhile, HDFC Bank has changed the eligibility criteria for complimentary domestic airport lounge access on select credit cards. From July 1, customers can avail up to three complimentary lounge visits per calendar quarter, provided they have spent at least ₹60,000 in the preceding quarter.
Passport services have also become more expensive following a revision in fees by the Ministry of External Affairs. The fee for a standard 36-page adult passport under the normal scheme has increased from ₹1,500 to ₹2,500, while the Tatkal application fee has been raised from ₹3,500 to ₹5,000.
Apart from these changes, revisions in the prices of LPG, CNG and PNG are also expected as part of the monthly pricing review, while stricter railway penalties and other regulatory measures are set to come into effect, potentially affecting travel and household expenses across the country.
